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22 September 2024 | 22 replies
They’re willing to work with me and are local to my market.
23 September 2024 | 2 replies
I'm currently looking through my lease and will consult a real estate attorney.
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14 September 2024 | 4 replies
She did not pay her first month due before housing kicked in.we will be sending her non renewal of lease and good chance she will not move and she plays I do not have money to move out (coz her sibling stays nearby). hence we foresee eviction down the line.what would be a good solid reason to do paperwork for eviction notice.
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23 September 2024 | 2 replies
The other "economical" areas are going to be more management heavy (think cheaper houses that are expensive in the long run) and the A/A+ neighborhoods will be very difficult to get cash flow (think Elmwood Village or Hertel Ave duplexes that are $350-400K but gross $3600/mo on the top end).
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22 September 2024 | 2 replies
I hear the same story about how the general economy, my length of time owning the business, etc are reasons credit unions (same ones who were on board before I bought the brewery) are now not willing to finance.
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23 September 2024 | 12 replies
If they find out HUD will kick both you and the tenant out of the program.
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23 September 2024 | 6 replies
Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.
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22 September 2024 | 13 replies
Will someone lend me money to pay off another hard money loan?
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15 September 2024 | 7 replies
Tenant agree that the reletting charge is a reasonable estimate of Landlord’s damages and that the charge is due whether or not Landlord’s reletting attempts succeed.
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24 September 2024 | 6 replies
Some greatly exagerate the after repair value and way underestimate the repairs.Hopefully your previous experience will help you pick out the best deals.